Another strong week for the bulls: the S&P 500 closed at a fresh record high Thursday, both the S&P 500 and Nasdaq 100 were on pace for a third straight weekly gain, and the Russell 2000 notched a record of its own as softer inflation data eased rate-hike expectations. Earnings kept the AI trade in favour — though $AMAT proved that a record quarter isn't always enough. Next week, retail takes the wheel: $HD, $LOW, $TJX, $WMT and $ROST all report inside three days.
Key numbers to watch
Consensus, prior-quarter or whisper context, and why each line matters.
| Metric | Consensus | Prior / whisper | Why it matters |
|---|---|---|---|
| S&P 500 | Fresh record high (Thu) | 3rd straight weekly gain pace | Easing rate-hike odds kept the AI trade bid. |
| Russell 2000 | Fresh record | Small caps joined the move | Broader participation than earlier in the summer. |
| $NU (Nu Holdings) | +12% on the print | Quarterly net income > $1B (first time) | Record Q2 report. |
| $AMAT (Applied Materials) | Rev $9.12B (+25% YoY) | Non-GAAP EPS $3.50 (+41% YoY) | A beat — stock still fell ~4%, extending past 5%. |
| $TPR (Tapestry) | EPS $1.32 vs $1.28 est | Coach led the quarter | Beat on the bottom line. |
| Q2 season to date | ~90% of S&P 500 reported | Earnings on pace +50% YoY | Strongest growth since 2021, powered by AI-linked capex. |
Consensus figures are Street estimates as of publish date and shift as analyst revisions land. Live consensus and implied move are on the stock page.
The week that was
Another strong week for the bulls. The S&P 500 closed at a fresh record high Thursday, and both the S&P 500 and Nasdaq 100 were on pace for a third straight week of gains. The Russell 2000 also notched a fresh record to cap things off, as easing rate-hike expectations and strong earnings kept the AI trade in favour.
Softer-than-expected inflation data mid-week was the macro swing factor, easing concerns about another Fed rate hike and giving stocks room to run into Friday's close. Nearly 90% of S&P 500 companies have now reported second-quarter results, with earnings on pace to rise 50% year over year — the strongest growth rate since 2021, largely powered by AI-linked capex.
Earnings winners and losers
- **Nu Holdings (Nu Holdings)** surged nearly 12% after a record second-quarter report that pushed quarterly net income above $1 billion for the first time.
- **Applied Materials (Applied Materials)** posted record quarterly revenue of $9.12 billion, up 25% year over year, with non-GAAP EPS of $3.50, up 41% year over year — a beat — but the stock still fell nearly 4% on the day, with the drop later extending past 5%. A reminder that in this market, "good" isn't always good enough for a stock priced for perfection.
- **Tapestry (Tapestry)** topped estimates with $1.32 per share against a $1.28 consensus, with Coach leading the way.
- **Globant (Globant)** sank 12.6% after a disappointing second quarter, while **Range Resources (Range Resources)** and **MDU Resources (MDU Resources)** both fell on weak numbers.
- **Reddit (Reddit)** jumped over 10% on news it's joining the S&P 500 — a reminder that index-inclusion catalysts can move a stock as much as earnings do.
The week ahead: retail earnings take the wheel
Big-box and off-price retail dominate the calendar, with five major names reporting in a three-day stretch.
- **Tue 8/18 — Home Depot (Home Depot)** reports before the open. Consensus looks for modest EPS growth, but at least one Street analyst is sceptical there's a real housing-demand recovery behind it — guidance will matter more than the headline number.
- **Wed 8/19 — Lowe's (Lowe's), TJX (TJX), Analog Devices (Analog Devices) and Estee Lauder (Estee Lauder)** all report before the bell, the busiest morning of the week.
- **Thu 8/20 — Walmart (Walmart)** headlines, alongside Alibaba (Alibaba) and Deere (Deere), with Ross Stores (Ross Stores) after the close. Watch for commentary on tariff-refund reinvestment into pricing — that's the storyline analysts are watching most closely.
- **Fri 8/21 —** a quieter close with BJ's Wholesale (BJ's Wholesale) and Buckle (Buckle).
**What we're watching:** the spread between big-box (Home Depot, Lowe's, Walmart) and off-price (TJX, Ross Stores) results. When consumers trade down, off-price tends to benefit — divergence there is often where the more interesting trades show up.
For the day-by-day consensus numbers, see our full preview of the August 17–21 earnings week.
From Catalyst Radar
Keep an eye on pre-earnings options flow into Tuesday and Wednesday's reports — unusual activity ahead of a print is often the first sign of positioning before the crowd catches on. Catalyst Radar flags this week's names, and the earnings calendar has every confirmed report time.
Data sourced from Bloomberg, TheStreet, Kiplinger, Yahoo Finance, Applied Materials and Tapestry investor relations, MarketBeat, and Quiver Quantitative.
*Not investment advice. For informational and educational purposes only.*
Use this on Earnings Compass
- See the full August 17–21 earnings calendar →Every confirmed report time, sortable by day, sector and market cap.
- Home Depot (HD) stock page →Reports Tuesday before the open — guidance is the swing factor.
- Walmart (WMT) stock page →Thursday before the open — tariff-refund reinvestment in focus.
- Applied Materials (AMAT) stock page →Record quarter, negative reaction — see the surprise history.
- Catalyst Radar →Track pre-earnings positioning into next week's prints.
Frequently asked questions
- How did the stock market perform the week of August 10–14, 2026?
- It was a strong week. The S&P 500 closed at a fresh record high on Thursday, and both the S&P 500 and Nasdaq 100 were on pace for a third consecutive weekly gain. The Russell 2000 also hit a fresh record, helped by softer-than-expected inflation data that eased expectations of another Fed rate hike.
- Why did Applied Materials stock fall after beating estimates?
- Applied Materials ($AMAT) reported record revenue of $9.12 billion, up 25% year over year, and non-GAAP EPS of $3.50, up 41% year over year — a beat on both lines. The stock still fell nearly 4% on the day, with the decline later extending past 5%, as expectations were priced for perfection heading into the print.
- Why did Nu Holdings stock surge?
- Nu Holdings ($NU) jumped nearly 12% after a record second quarter that pushed quarterly net income above $1 billion for the first time.
- Which retailers report earnings the week of August 17, 2026?
- Home Depot ($HD) on Tuesday August 18 before the open; Lowe's ($LOW), TJX ($TJX), Analog Devices ($ADI) and Estee Lauder ($EL) on Wednesday August 19 before the bell; Walmart ($WMT), Alibaba ($BABA) and Deere ($DE) on Thursday August 20, with Ross Stores ($ROST) after the close; BJ's Wholesale ($BJ) and Buckle ($BKE) on Friday August 21.
- How strong is Q2 2026 earnings season so far?
- Nearly 90% of S&P 500 companies have reported, with earnings on pace to rise about 50% year over year — the strongest growth rate since 2021, largely driven by AI-linked capital expenditure.